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Venezuela Consumer Electronics Report Q2 2011
Business Monitor International, March 2011, Pages: 44
Venezuela Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Venezuela's consumer electronics industry.
Venezuela’s consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and video, audio and gaming products, is estimated at US$3.2bn in 2011. The country’s consumer credit binge of the past five years has now ended and BMI projects a lower rate of growth over its five-year forecast period, after negative growth in consumer electronics sales in 2010.
Following the announcement in 2010 of a steep devaluation of the bolívar for ‘non-essential’ imports such as flat-screen TV sets, demand is likely to be constrained as consumers grapple with runaway inflation, restricted credit availability and the erosion of real wages.
Despite this challenging trading environment, BMI expects an expanding population, rising disposable income and easier access to consumer credit to have positive effects on Venezuela’s consumer electronics sales over the long term. The market is expected to grow at a compound annual growth rate (CAGR) of 6.1% to US$4.1bn by 2015, driven by underlying demand for notebooks, digital cameras and digital TV sets. Venezuelan consumers also continue to show enthusiasm for high-end consumer electronics devices such as BlackBerry smartphones.
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